Paul Johnson Crypto-friendly Old Glory Bank is preparing to list on Nasdaq through a SPAC merger with Digital Asset Acquisition Corporation, aiming to become the first chartered bank to fully integrate crypto into daily banking.
Crypto-friendly Old Glory Bank eyes Nasdaq debut through SPAC merger
In a bold move that signals a deeper merger between traditional finance and the digital economy, crypto-friendly Old Glory Bank has announced plans to list on Nasdaq through a merger with Digital Asset Acquisition Corporation. The deal, expected to conclude by mid-2026, places the Texas-based institution among the growing number of banks embracing digital asset infrastructure as part of their core operations.
The crypto-friendly Old Glory Bank, known for its “digital-first” approach to financial innovation, plans to operate under the ticker symbol OGB once the merger closes. The bank said the transaction is still subject to shareholder and regulatory approval, with completion anticipated toward the end of the first quarter or early in the second quarter of 2026.
From a century-old foundation to a digital-first future
Old Glory Bank’s story stretches back over a century, originating as the First State Bank of Elmore City in Oklahoma. After being acquired by Old Glory Holding Company in 2022, it was reborn with a vision focused on modernizing community banking through blockchain technology.
That rebranding marked the bank’s evolution into a crypto-friendly financial institution aiming to bridge the gap between fiat and crypto ecosystems. The leadership team, including co-founder and chief innovation officer Michael Shaw, envisions a seamless integration of on-chain and off-chain finance.
Shaw explained that the bank’s long-term mission is to give customers the power to move assets effortlessly between traditional and digital accounts. This would include the ability to convert crypto into fiat currency directly within their bank accounts using its proprietary OGB Freedom Offramp technology.
The crypto-friendly Old Glory Bank believes this system will make it easier for users to deposit crypto assets instantly while maintaining full regulatory compliance.
Bridging traditional banking and blockchain innovation
What sets the crypto-friendly Old Glory Bank apart from other institutions exploring digital asset integration is its plan to operate as a fully chartered bank with blockchain at its operational core. Rather than offering crypto services as an afterthought, Old Glory is positioning itself as a pioneer in blending regulated banking with blockchain-enabled payments and deposits.
Its model aims to address one of the most pressing challenges in the sector the friction between digital wallets and fiat systems. By allowing customers to transfer funds on and off chain with speed and transparency, Old Glory hopes to redefine what “crypto-friendly” banking means in practice.
This approach could potentially reshape how both individuals and businesses manage liquidity, savings, and cross-border transfers.
As regulators continue to refine their frameworks for digital finance, institutions like Old Glory are playing an important role in proving that compliance and innovation can coexist. The proposed Nasdaq listing would further cement its credibility within both Wall Street and the crypto ecosystem.
The broader shift toward crypto-integrated banking
Old Glory’s public ambitions come at a time when more financial institutions are warming up to digital asset integration. In December, the US Office of the Comptroller of the Currency gave conditional approval to several bank charter applications from crypto-linked firms, including Ripple Labs and Circle.
Similarly, World Liberty Financial a crypto company associated with US President Donald Trump and his family recently applied for a national trust banking charter. The move underscores a trend where established financial and political players are stepping into the blockchain economy through regulated banking channels.
For Old Glory, the crypto-friendly vision is not just about token trading or speculative gains. It’s about embedding digital finance tools into everyday life, from payroll deposits to cross-border transactions. The ability to connect crypto and fiat seamlessly could make it a preferred partner for both consumers and businesses seeking a compliant yet forward-looking financial platform.
What the Nasdaq listing means for the crypto industry
The planned Nasdaq listing represents more than a corporate milestone. It reflects a structural shift in how the financial industry perceives blockchain adoption. Public listings for crypto-friendly banks like Old Glory demonstrate growing investor confidence in the viability of institutions that integrate digital assets into their business models.
If the merger and listing proceed as expected, Old Glory will join a select group of banks that have successfully navigated the complexities of both the US regulatory environment and blockchain integration. This dual compliance framework could position the bank as a model for future entrants in the space.
By bringing digital asset banking to the public market, the crypto-friendly Old Glory Bank could serve as a catalyst for wider acceptance of blockchain-based financial products among retail and institutional investors alike.
A new chapter for crypto and community banking
The crypto-friendly Old Glory Bank’s journey from a century-old community bank to a digital-first Nasdaq contender embodies the broader evolution of modern finance. Its vision of combining regulatory trust with crypto accessibility could help shape the next generation of financial services.
As the merger moves toward completion, the industry will be watching closely. Should Old Glory deliver on its promises, it may not only become the first fully chartered bank to integrate crypto into everyday banking but also a symbol of how innovation and tradition can coexist within the global financial system.
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards.
